Shares of Atlantic Union Bankshares Co. (NASDAQ:AUB – Get Free Report) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $29.03, but opened at $29.81. Atlantic Union Bankshares shares last traded at $29.73, with a volume of 9,785 shares traded.
The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Atlantic Union Bankshares had a return on equity of 9.97% and a net margin of 24.25%. During the same quarter in the previous year, the business posted $0.74 earnings per share.
Atlantic Union Bankshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.20 dividend on an annualized basis and a yield of 4.04%. Atlantic Union Bankshares’s payout ratio is 43.17%.
Analyst Ratings Changes
Check Out Our Latest Analysis on AUB
Hedge Funds Weigh In On Atlantic Union Bankshares
A number of large investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Atlantic Union Bankshares by 99.7% during the 1st quarter. BlackRock Inc. now owns 11,039,306 shares of the company’s stock worth $386,928,000 after buying an additional 5,511,312 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Atlantic Union Bankshares by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,034,129 shares of the company’s stock worth $244,076,000 after buying an additional 410,539 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Atlantic Union Bankshares by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,659,886 shares of the company’s stock worth $170,973,000 after buying an additional 58,055 shares in the last quarter. Wellington Management Group LLP increased its stake in Atlantic Union Bankshares by 10.9% in the 1st quarter. Wellington Management Group LLP now owns 4,270,344 shares of the company’s stock valued at $156,679,000 after purchasing an additional 419,845 shares in the last quarter. Finally, State Street Corp increased its stake in Atlantic Union Bankshares by 25.3% in the 2nd quarter. State Street Corp now owns 4,107,277 shares of the company’s stock valued at $106,584,000 after purchasing an additional 829,066 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.
Atlantic Union Bankshares Stock Up 2.4 %
The stock has a market capitalization of $2.23 billion, a PE ratio of 10.69 and a beta of 1.04. The firm has a 50 day moving average of $29.52 and a two-hundred day moving average of $28.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16.
Atlantic Union Bankshares Company Profile
Atlantic Union Bankshares Corporation operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States. It operates in two segments, Wholesale Banking and Consumer Banking. The company accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts; certificates of deposit; and other depository services.
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